NEW YORK, May 12 (Reuters) - The U.S. dollar rose on Wednesday...

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    NEW YORK, May 12 (Reuters) - The U.S. dollar rose on Wednesday morning after inflation data showed a surge in consumer priced in April.

    The dollar index =USD , which measures the U.S. currency against a basket of rivals, was last up 0.36% on the day to 90.531, reversing a move lower earlier this week. The dollar had fallen ahead of the consumer price index data on expectations that the Federal Reserve would keep interest rates anchored and would continue purchasing assets regardless of the outlook on inflation.

    The euro EUR=EBS dropped on the stronger dollar, last down 0.33% to $1.211. The single currency on Tuesday had hit a 2-1/2 month high. The Japanese yen JPY=D3 was 0.46% weaker on the day at 109.130 and the British pound GBP=D3 was modestly weaker, down 0.18% to $1.412.

 
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